CVS Health (NYSE:CVS) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

CVS Health (NYSE:CVS) issued its quarterly earnings results on Wednesday. The pharmacy operator reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.01, Briefing.com reports. CVS Health had a return on equity of 12.72% and a net margin of 1.98%. The firm had revenue of $95.43 billion during the quarter, compared to analyst estimates of $92.72 billion. During the same period last year, the company earned $2.21 EPS. CVS Health’s quarterly revenue was up 6.3% compared to the same quarter last year.

CVS Health Stock Performance

CVS stock traded down $4.50 during trading on Thursday, reaching $57.11. The company had a trading volume of 22,279,666 shares, compared to its average volume of 11,310,879. The company has a market cap of $71.84 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 0.82 and a beta of 0.55. CVS Health has a twelve month low of $52.77 and a twelve month high of $83.25. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.66 and a current ratio of 0.86. The firm has a 50-day simple moving average of $59.59 and a 200-day simple moving average of $59.23.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a dividend of $0.665 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.66%. CVS Health’s dividend payout ratio (DPR) is currently 47.33%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CVS. Deutsche Bank Aktiengesellschaft cut their price target on shares of CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Wells Fargo & Company reduced their target price on shares of CVS Health from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday. TD Cowen raised CVS Health from a “hold” rating to a “buy” rating and increased their price objective for the stock from $59.00 to $85.00 in a research note on Friday, October 4th. Truist Financial lifted their target price on CVS Health from $66.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, Evercore ISI increased their price target on CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Nine analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, CVS Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

About CVS Health

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.